Walmart Jumps to Nasdaq in Biggest Exchange Transfer on Record
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Walmart is transferring its shares from the NYSE to the Nasdaq Global Select Market, effective December 9, citing its technology-forward approach. This move reflects a growing trend among large companies, with PepsiCo making a similar switch in 2017. The transfer also includes nine bonds.
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The Bentonville, Arkansas-based company, which has been on the NYSE since 1972, said it expects its shares to begin trading on the Nasdaq Global Select Market, the highest of the exchange’s three tiers, on Dec. 9. The move to the tech-heavy Nasdaq reflects Walmart’s “technology-forward approach,” the retailer said, and it will transfer the listing of nine bonds to the exchange as well. Large companies have made the move before, with PepsiCo Inc. abandoning its nearly century-long listing on the NYSE in 2017.
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